We do have SMS funding the larger percentage cost of each plant...

We do have SMS funding the larger percentage cost of each plant and enough cash in bank I think, to fund our share of the first 20k tonne yr plant, the income from which we can probably use to borrow against to fund the next one rather than any dilutive fund raise.
Plus we have Barrambie ( The Big One ) perhaps the offtake agreement will bring in sufficient cash as help cover any funding gap by the time cash is required for battery plants.
I’d like to think between SMS, the value created in each plant, our cash in bank and Barrambie income we can fund the recycling plants.
Our equity value should also rocket once demonstration plant goes live and certainly once the first 20k yr plant goes live and we start producing substantial income from it.
We also have potential income from licence agreements with others using our tech to build further plants.
Our partnership with SMS shouldn’t be underestimated when it comes to funding, building and operating these plants, see how it plays out as we get closer to FID next year, Loop.